FROM DREXEL UNIVERSITY PRESIDENT CONSTANTINE PAPADAKIS:
RESPONSE TO THE NEW YORK ATTORNEY GENERAL
  
Drexel University has always strived to strictly adhere to best practices in order to treat our students fairly and properly and to provide the best value for their educational needs. We follow open and competitive procurement policies and consult with recognized experts to ensure that our contracts and arrangements with and for our students comply with all applicable legal requirements.  We have carefully reviewed our practices regarding student loans, and we are satisfied that there is no conflict of interest or untoward behavior on the part of Drexel University.  
 
With respect to the notice of intention to sue that was today publicly released by the New York Attorney General, Drexel will vigorously defend its position in this matter and will fully respond to any lawsuit in due course.  We believe the allegations are without foundation in law or in fact.
 
We first received a letter from the Attorney General in late February and responded immediately with full disclosure of our current business practices regarding student loans. We received no communication from the Attorney General’s office until today when a letter regarding his intent to sue was sent to our undergraduate newspaper and then forwarded by our students to our legal counsel.  Not withstanding Drexel’s full cooperation the filing of this notice of intent to sue, without prior notice or demand, demonstrates that the Attorney General has not dealt with our university in a forthright manner.  
 
The timing and public release of the Attorney General‘s notice of intent to sue raises troubling questions as to his motivations and to his tactics.  Indeed, his conduct violates fundamental principles of fair play to which Drexel and its students are entitled and therefore we will move forcefully to protect our position in this matter.